SunSirs: The Overall Supply of Rapeseed Oil in China is Abundant, while the Supply of Palm Oil is gradually Loosen

At present, although the total inventory of the three major oils and fats in China has slightly decreased compared to last year, it is still at a historically high level, and the supply of rapeseed oils is abundant. In the later stage, the start-up rate of oil plants in July will be at a medium to high level. It is expected that the monthly crushing volume of soybeans and rapeseed will be around 8 million tons and 500,000 tons respectively. Soybean oil is likely to continue to accumulate, and rapeseed oil inventory will remain high.

In terms of palm oil, import profits have recently turned negative, and some companies have experienced ship washing. Subsequently, palm oil imports to ports have maintained a stable and increasing trend. It is expected that the import of palm oil to ports from July to September will be 350,000 tons, 320,000 tons, and 360,000 tons respectively. Due to the price surpassing soybean oil, downstream demand for palm oil has been suppressed. It is expected that palm oil inventories will continue to rise in July, and supply will gradually loosen.

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